WuXi XDC Cayman (HKG:2268) completed the sale of 24.13 million new shares to its controlling shareholder WuXi Biologics (HKG:2269), according to a Thursday Hong Kong bourse filing.

The shares were sold at HK$58.85 each for HK$1.41 billion in net proceeds.

WuXi XDC previously said it will use about 90% of the proceeds to expand capacity at its Singapore and Wuxi sites, with the balance for working capital and general corporate purposes.